The deal has the potential to make cryptocurrency payments available at one third of U.S. retailers and restaurants
A deal to purchase leading Bitcoin ATM maker Liberty could see cryptocurrency accepted at one third of the grocery and retail stores in North America.
The August 2 announcement by Fortune 500 enterprise technology provider NCR has the potential to vastly increase the reach of cryptocurrency payments.
While LibertyX is a leader in the crypto space, with 9,500 Bitcoin ATMs and point-of-sale (POS) software in 20,000 retail stores, it is dwarfed by NCR, which has a 31% market share in the North American POS system software market, according to a December 2020 report
by consulting firm RBR.
At present there are less than 25,000 crypto ATMs in 74 countries, according to Coin ATM Radar
. Bitcoin and other digital currencies are accepted in nearly 278,000 restaurants and retailers.
“Due to growing consumer demand, our customers require a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance and accept digital currency payments across digital and physical channels,” said Tim Vanderham, CTO of NCR Corporation. “The LibertyX solution will accelerate our ability to rapidly deliver these capabilities to the market.”
Crypto ATMs Everywhere
NCR said it intends to integrate LibertyX’s software into its solutions for banks, retailers, and restaurants. NCR sells both point-of-sale — cash register — systems and ATMs.
“NCR is an industry leader in banking, retail and hospitality, and has a tremendous customer base across our growth markets,” said Chris Yim, co-founder and CEO of LibertyX. “We look forward to offering NCR’s customers the ability to quickly and easily offer the digital payments and cryptocurrency capabilities consumers want, while significantly expanding the scope, scale and reach of our software.”
LibertyX’s digital currency software already runs on ATMs in U.S. convenience stores, pharmacies, and supermarkets owned by Cardtronics, the world’s largest non-bank ATM provider, which NCR purchased
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